Finance & Capital Management

New York -- Borderfree, a provider of cross-border e-commerce services, announced that it signed a definitive agreement to be acquired by Pitney Bowes Inc. for $14 per share in cash, or approximately $395 million. The acquisition comes as Pitney Bowes looks to expand more into software and digital-commerce services.

Chicago -- Tucker Development, in joint venture with Hutensky Capital Partners, announced the $57.25 million acquisition of Town Square Wheaton (TSW), a 200,000-sq.-ft. shopping, dining and office destination located in Wheaton, Illinois.
 

HSN’s push to make it easier for smartphone shoppers to buy its products online was successful in the first quarter, with the multichannel retailer reporting a big increase in mobile sales.

Digital sales at HSN grew 18%, with mobile sales increasing 31%. HSN earned $0.63 per share in the first quarter, exceeding analyst expectations of $0.58 per share. Similarly, revenue of $841.9 million was better than the $826.08 million analysts expected. 

Seattle -- Online retailer Zulily announced today that Brian Swartz has been appointed senior VP and CFO, effective June 1, 2015.

Swartz brings more than 20 years of operational and financial experience to Zulily. For the last six years, he served as senior VP and CFO of Apollo Education Group, Inc., a private-sector education company. Swartz joined Apollo from EaglePicher Incorporated, a technology and industrial products and services company, where he served as VP and corporate controller.

Former Apple and JCPenney executive Ron Johnson’s career has been marked by spectacular success and failure, which is why his new retail venture called Enjoy is of interest, even if it borrows heavily from a service Best Buy launched more than a decade ago.

Billed as a “a whole new way to buy and enjoy technology,” Johnson secured $30 million in funding last fall and launched the service on Wednesday in the San Francisco area and debuts May 13 in New York.

London -- Retailers worldwide lose a staggering $1.75 trillion annually due to the cost of overstocks, out-of-stocks and needless returns, according to new research from retail analyst firm IHL Group, commissioned by OrderDynamics.

Whole Foods Market set another sales record in the second quarter – but that’s not enough for the grocery chain, which announced it is launching a new store concept targeted to the Millennial shopper.

Toronto -- Canadian Tire Corp. has concluded an agreement to acquire 12 real estate leases formerly held by Target Canada for $17.7 million. The transaction is subject to the approval of the court in connection with Target Canada's CCAA proceedings.